Thetownend.com

Boooooooooo  :x

http://news.bbc.co.uk/1/hi/business/4484226.stm

I now have to work until I'm 67...

Boooooooooo   :x

Unless you have a private pension and make sure you pay enough in so you can retire earlier  8)

oh fucking bollocks. So that's 46 years to go then... :x

Don't you work for the public sector? In which case you still get your final salary pension right?

You can retire at 60 too but they have changed that for new starters. They're on about going back on the agreement though which would trigger the biggest public sector strike since the winter of discontent.

Ill be dead by then  :|

Put in it proeprty you can from next year!

I have a Royal Mail pension which i get from 65  8)

Still got a private pension - and intend to retire by about 55, but still Boooooooo... :D
I want the basic state pension to kick my earnings up 2 years earlier....

I hav put all my money on dog #2. I'll be retired by tomorrow*

Actually I think I have about 4 private pensions, all of which are 'frozen' due to moving jobs/employer changing pension scheme , etc. My current employer only offers a non contributary scheme (boo).

Why doesn't the Government force all pensions to be personal pension. You could combine pensions and your employer should be forced to provide the choice of them paying into (if they contribute).

Then you can see all you money in one place and better guage how poor you will be if you reach retirement age.

Guess I need financial advice really.

Explain...

You can invest in property as a way of using it as a pension.  It kicks in on April 5th I belivee and you can get a tax break for doing it.  Id rather have a few buy to lets now and be paid off by 50 and then live off the income then.

how did you start out with all this Asher?

Me and the father in-law have been toying with the idea for ages now

When you say tax break, do you mean the Government match you up to a certain amount, the same as they have done with pensions?  If it's just knocking it off against tax, surely doing it as a business you could that anyway.  I use all sorts of stuff to reduce my tax bill, still stings when you get it in a lump though.

mate 1200 was my tax bill last year.  Not bad.  Bought first house and equity, as long as you buy at a good price its easy.  I work for 15 investors and purchase for them too.  Only got 2 myself

me too mate.

BUT (and its a big but)

Royal Mail has a pensions deficit of something like £4bn, which is going to rise to £7bn before it starts getting better. niiiiiiiiiiiiiiiiiiiiiice.

It depresses me tbh. Any savings you make it is best to tie it up somehow. We are paying for the baby boom after ww2. The trouble is is it will only get worse not better.

I do a fair bit of work for estate agents and the like, doing up houses.  Will get a property in the next two years if I stay in England.  Was expecting the market to have cooled alot by now, but it seems the lack of housing is still driving prices.

We should be ok until 2020, 2030 we'll start feeling the squeeze a bit and by 2040 there will be a huge problem.  

As Asher says the pension rules are being relaxed, from April 6th, which is known as A-day, from then you are able to cash in a certain amount of you're pension fund (25% I think) and can invest it in property.  

Basically it's worth everyone starting to plan for their own pension funds now, although it's a pricey business.  Do not rely on the govt to help you out in years to come because they won't be able to.

message to Tony Blair and his pathetic Labour party  :fu: im not working till im dead! now fuck off and get the tories back in!

 Fucking inconsiderate wasn't it to live through the General Strike,economic depression of the 30's, then fight off fascism....and then have some kids because the promise of a welfare state by the Labour Government..meant that for the first time in the 20th Century it looked like the future might become prosperous, for their children and children's children..

I work in pensions for a large company. Here's a clue, we are planning to demutualise in April next year. Anyone got a with profits policy? You may be entitled to a windfall!  :Ride On Fatbury's Lovestick: